公用事业行业ESG周报：国家发展改革委等部门印发《完善碳排放统计核算体系工作方案》

Investment Rating - The report maintains an "Outperform" rating for the utility sector [2] Core Insights - The report highlights the establishment of a comprehensive carbon emission accounting system by 2025, which aims to enhance carbon emission measurement and monitoring capabilities across various industries [9][10] - The "Belt and Road" initiative is set to enhance green energy cooperation among member countries, focusing on building a diverse and stable energy supply system [10] - The report emphasizes the importance of ESG (Environmental, Social, and Governance) investments, with significant growth in ESG bonds and funds in the market [4][26][32] Summary by Sections 1. Hotspot Focus - Domestic: The National Development and Reform Commission has issued a plan to improve carbon emission statistics, aiming for a complete reporting system by 2025 [9] - International: The "Belt and Road" green energy cooperation action plan outlines strategies for enhancing energy security and cooperation among member countries [10] 2. Policy Dynamics - Shanxi Province has launched a 2024-2025 energy conservation and carbon reduction action plan, targeting a 2.0% reduction in energy consumption per unit of GDP in 2024 [11][13] 3. ESG Performance Research - The report discusses the ESG performance of Yuan Da Environmental Protection, noting its leading position in the industrial smoke governance sector and its comprehensive ESG score [15][18] 4. ESG Financial Product Tracking - As of October 25, 2024, the total issuance of ESG bonds in China reached 4,962, with a total scale of 13.95 trillion RMB [26] - The market has 566 existing ESG products, with a total net value of 557.5 billion RMB, where environmental protection products account for the largest share [28][32] 5. ESG Expert Opinions - The report includes insights from financial regulators on enhancing financial support for the "Belt and Road" initiative, emphasizing the need for improved financial services and product offerings [5][34]